UK virtual reality market is growing at a CAGR of around 33.3% during the forecast period. The video gaming sector is the most competitive sector in the U.K., with at present 29 companies involved in the development of virtual reality technology. The interaction of virtual reality technology with the human body is significantly increasing day-by-day. Moreover, the introduction of augmented reality and virtual reality has made a revolutionary change in the construction sector. The Advanced Manufacturing Research Centre with Boeing (AMRC) in Sheffield and the University of Strathclyde’s Advanced Forming Research Centre (AFRC) has introduced the augmented and virtual reality technology to the country.
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Visualization and Virtual Reality (VVR) organization enable the manufacturers of the UK to visualize their industry, products, and on-going processes in a virtual way. The Advanced Manufacturing Research Centre (AMRC), Manufacturing Technology Centre (MTC), Nuclear AMRC and Warner Music Group (WMG) have formed the association that aims in the delivery of the high- value manufacturing catapult visualization and VR forum. The VR forum has augmented the use of advanced immersive visualization system, in order to assist manufacturing companies. Some of the recent applications of virtual reality technology include the assembly training in factories, virtual prototyping, factory layout planning, and human factors assessment. Hence, contributing to the UK virtual reality market growth.
The Government of the UK offers tax breaks for the development of innovative technologies, which includes Enterprise Investment Scheme and R&D tax credits. Healthy start-up environment, lots of investment for the development of innovative technologies, and good access to finance are the key characteristics responsible for the VR market growth in the country, especially in London. The government supports the development of virtual reality companies not only in London; however, in all over the UK, majorly in the East Coast and in Greater Manchester.
UK Virtual Reality Market Segmentation
By Component
- Hardware
- Software
By System
- Non-immersive VR
- Semi-immersive VR
- Fully-immersive VR
By Application
- Entertainment
- Gaming
- Tourism
- Training & Education
- Others (Live Events and Real Estate)
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Company Profiles
- Apple Inc.
- Google Inc.
- HTC Corp.
- Mechdyne Corp.
- Microsoft Corp.
- Nvidia Corp.
- Samsung Electronics Co. Ltd.
- Sony Corp.
- Virtalis
- Vuzix Corp.
- Zeiss international
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